On Thursday, the Antimonopoly Committee of Ukraine (AMCU) allowed GNG Retail Limited (Nicosia, Cyprus), a holding company of Galnaftogaz, to acquire stakes in the authorized capital of Gadz-Agro LLC with a land bank of 25 thousand hectares and Ukrpolfrukt LLC (both in Tribukhivtsi village, Buchach district, Ternopil region).
According to the agency’s website, applications for the acquisition of shares were received by the AMCU on March 29, 2024, the size of the shares is not specified.
According to the website, Gadz-Agro was founded in 2004 in Chortkiv district of Ternopil region and currently leases about 25 thousand hectares located in one area in three districts of Ternopil region. The company is engaged in the production and sale of basic and certified seeds, cultivation and storage of grain and industrial crops, their trade, production of flour and cereals, as well as breeding of dairy cattle. Petro Gadz owns 100% of Gadz-Agro.
According to the Opendatabot project, in 2023, the company reduced its net profit by 28.2 times to UAH 11.49 million, while its revenue increased by 19.1% to UAH 2 billion 274.15 million and its assets increased by 20.1% to UAH 4 billion 247.65 million. During the year, the number of employees increased by 35 people to 1,017.
Ukrpolfrukt LLC was established in 2017 and specializes in growing berries, nuts, pome and stone fruits, fruit trees and shrubs, and nursery farming. Petro Gadz owns 75% of the company, while Taras Melnyk and Oleg Hrytsak own 15% and 10%, respectively.
In 2023, the company increased its profits and assets by 4.2 times to UAH 2.182 million and UAH 11.22 million, respectively. At the same time, the company’s debt obligations increased 16.8 times to UAH 6.75 million, and revenue decreased by 33.4% to UAH 7.39 million. It has 1 employee.
GNG Retail Public Limited is the holding company of Galnaftogaz. It owns 90% of the shares. The founder and ultimate beneficiary of the group is Vitaliy Antonov, and the European Bank for Reconstruction and Development owns a minority stake in GNG Retail Public Limited.
In addition, on Thursday, the AMCU granted permission for Saroubas Limited, a company controlled by Antonov, to purchase more than 50% of Developer AV LLC and Developer VD LLC, which organize the construction of buildings (both in Lviv), owned equally by Israeli citizen Alon Holstein and Austrian citizen Maximilian Dejako through Cyprus-based Pleinmont Capital Ltd.
